What does PROE mean?

ProE

Creo Elements/Pro, a product now called Creo Parametric and formerly known as Pro/ENGINEER is a parametric, integrated 3D CAD/CAM/CAE solution created by Parametric Technology Corporation. It was the first to market with parametric, feature-based, associative solid modeling software. The application runs on Microsoft Windows platform, and provides solid modeling, assembly modelling and drafting, finite element analysis, and NC and tooling functionality for mechanical engineers. Versions for UNIX systems were discontinued with the release of version 4.0, except Solaris on x86-64.
The Pro/ENGINEER name was changed to Creo Elements/Pro on October 28, 2010, coinciding with PTC’s announcement of Creo, a new design software application suite. Creo Elements/Pro will be discontinued after version 2 in favour of the Creo design suite.
Creo Elements/Pro and now Creo Parametric competes in the market with CATIA and NX.